Analyst Kyle Peterson from Needham reiterated a Buy rating on TransUnion (TRU – Research Report) and increased the price target to $89.00 from $87.00.
Kyle Peterson has given his Buy rating due to a combination of factors, including TransUnion’s impressive first-quarter results which surpassed expectations in terms of revenue and earnings. Notably, the company showed robust growth in international markets and significant gains in the mortgage sector due to increased pricing on third-party scores and credit reports. This growth occurred despite a drop in mortgage inquiries, highlighting the strength of the pricing strategy and indicating a positive outlook for the company’s financial health.
Furthermore, Peterson’s outlook on TransUnion is optimistic as he anticipates the company to continue outperforming, driven by its strategic initiatives to enhance efficiency and reduce financial leverage. As a result of these positive developments and strong financial performance, Peterson has increased his earnings estimates for the company, reaffirmed his Buy rating, and adjusted the target price upwards to $89. This comprehensive assessment suggests a favorable position for TransUnion’s stock, encouraging investment consideration.
According to TipRanks, Peterson is a 4-star analyst with an average return of 7.0% and a 53.28% success rate. Peterson covers the Industrials sector, focusing on stocks such as Equifax, TriNet Group, and TransUnion.
In another report released on April 23, RBC Capital also maintained a Buy rating on the stock with a $85.00 price target.
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TransUnion (TRU) Company Description:
TransUnion engages in the provision of information and risk management solutions. It also provides consumer reports, risk scores, analytical services and decision making capabilities to businesses. It operates through the following segments: U.S. Information Services (USIS), International, Consumer Interactive, and Corporate. The USIS segment provides consumer reports, risk scores, analytical services and decision making capabilities to businesses. The International segment provides credit reports, analytics and decision making services and other value-added risk management services. The Consumer Interactive segment offers solutions that help consumers manage their personal finances and take precautions against identity theft. The Corporate segment provides support services to each segment, holds investments and conducts enterprise functions. The company was founded on February 15, 2012 and is headquartered in Chicago, IL.
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